12th edition of the prestigious biennial ‘Defence Expo-2022’, which is scheduled to be held from 10th to 13th March 2022 at Gandhinagar, Gujarat will see the participation of over 900 defence firms.
Of the 900 exhibitors, over 100 exhibitors are from foreign countries. The event will also witness the participation of venture capitalists who will look at the possibility of making investments in defence start-ups.
Notably, 55 countries have already confirmed their participation in Asia’s largest defence exhibition. In the coming days, the numbers are expected to increase as confirmations continue to pour in.
Interestingly, a 1,000-drone show by IIT Delhi’s Botlab Dynamics is expected to be one of the spotlights of the exhibition. This will be the second time such a level of drone show is being organised in India. Previously, the startup organized a successful drone show at the Beating Retreat in Delhi on January 29 2022.
What to expect from DefExpo-2022?
India’s flagship defence exhibition ‘Defence Expo-2022’ aims to forge partnerships in defence space, enhancing the benchmark of the previous edition of Defence Expo with a greater presence of exhibitors, foreign and Indian Original Equipment Manufacturers (OEMs) along with foreign countries partnerships.
Further, the Defence Expo-2022 will provide an overview of what India has been able to achieve in terms of defence production, application of modern technologies, liberalized collaborative policies and R&D. The focus of the flagship defence exhibition is on projecting the country as an emerging defence manufacturing hub.
The military exhibition will bring all the latest technologies under one roof and provide a myriad of opportunities to the stakeholders in the Aerospace and Defence industry of India. Major global and domestic military firms will participate in the biennial edition of the DefExpo with their latest weaponry and platforms.
“At the same time, I can also assure you that the State of Gujarat has such richness of culture, art, food and serenity to offer that DefExpo-2022 will leave a lasting imprint on the participating delegates,” the Defence Minister said.
Invitation to the foreign delegates
Inviting the foreign delegates to attend Asia’s largest defence exhibition, DefExpo 2022, Defence Minister Rajnath Singh recently said, India is open to conducting business on a mutually beneficial collaborative basis, in the spirit of giving and take, for the all-round welfare of everyone.
“Resurgent India, where defence manufacturing is an identified pillar of growth, will display its ability to take lead at DefExpo 2022. I am confident that pursuing the vision of our Hon’ble Prime Minister Shri Narendra Modi, DefExpo-2022 will sow the seeds of successful new ventures and international partnerships to promote shared prosperity, boost investment, expand manufacturing and bolster the aerospace and defence ecosystem in India, which shall be ready to serve the defence requirements of our friendly countries also,” said Defence Minister Rajnath Singh.
At the Ambassadors’ Round Table in October 2021, the Defence Minister also launched the DefExpo 2022 website (www.defexpo.gov.in), which provides online services to exhibitors, besides hosting informative content about the various indigenous defence products and tourism, arts and crafts of Gujarat.
India’s aim for US$25 billion defence turnover
India aims to achieve technical capabilities and economies of scale for its Defence industry to reach a turnover of over US$25 billion in military goods and services by 2025. To aid this growth, the Government has taken a number of measures, including the extension of 100 per cent foreign direct investment (FDI) to the Defence sector. While up to 49 per cent stake has been allowed under the automatic route, FDI above 49 per cent is permitted through the Government route on a case to case basis, especially where it is likely to result in access to sensitive innovation and technology.
To encourage investors, In 2020, the Government of India further relaxed its foreign direct investment (FDI) regulations to allow investments of up to 74 per cent in the Defence manufacturing sector under its automatic route. Resultantly, top private Defence, naval and aviation manufacturers from both India and abroad as well as those controlled by Indian and foreign governments have entered or expanded operation in the country in the recent past.
These investments, both through acquisitions and joint ventures, are catering not just to India but to the global marketplace. Beyond the promise of income growth from India’s vast economy, these investments have been driven by the presence of a vast pool of skilled workforce and research and development (R&D) capacities, favourable market accesses and easy availability of other supporting infrastructure and resources.
